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If the elasticity of demand for face lifts is - 50.4. You can say that demand...

If the elasticity of demand for face lifts is - 50.4. You can say that demand for this service is

Group of answer choices

elastic

inelastic

unitary elastic

none of the above are possible

all of the above are possible

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Answer #1

Elastic - is correct

Since the absolute value of elasticity is greater than 1, demand is elastic.

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